BTCUSD saw a continued uptrend with price riding the upper band
Price volatility was very high. The market moved ~5.21%, between 12.32k and 11.71k
Today’s Trend analysis
BTCUSD expected to see a sideways movement as the price observed resistance from the upper band after riding the upper Bollinger band and Bollinger band expansion
Price at time of publishing: $12,214
BTC’s market cap: $226 Billion
Oscillator indicators are mostly neutral. RSI at 79
Moving average indicators are indicating an uptrend Ichimoku Cloud is neutral
Volume indicators observed a change from an increase in volume with the price increase to a decrease in volume as the price increases
Price expected to see a sideways movement as the price observed resistance from the upper band after riding the upper Bollinger band and Bollinger band expansion. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size increasing in the positive region suggesting bullish bias. RSI at 79, in the overbought region, indicating a downtrend. CCI at around 149, in the overbought region indicating a downtrend. Another interesting point to notice here is that the volume observed a change from an increase in volume with the price increase to a decrease in volume as the price increases indicating a shift from buyers to sellers. ----------------------------------------------------------------------------------------
The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
DM to get details of the above analysis and list of indicators & their values used to arrive at the above conclusion.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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